Lassila & Tikanoja plc
Stock exchange release
10 September 2019 1.30 pm
Lassila & Tikanoja plc to start repurchase of own shares
The Board of Directors of Lassila & Tikanoja plc has resolved to start repurchasing of own shares by virtue of the authorisation by the Annual General Meeting on 14 March 2019. The maximum amount of the repurchase is 600,000 shares, which corresponds to approximately 1.5 per cent of the total number of issued shares. The maximum amount allocated to repurchasing the shares is EUR 9 million. The repurchasing of shares will start on 16 September 2019 at the earliest and end on 31 December 2019 at the latest.
The Annual General Meeting on 14 March 2019 authorised the Board of Directors to resolve on a repurchase of a maximum of 2,000,000 Company’s own shares. The purpose of the share repurchase is to develop the Company’s capital structure and/or to use the shares as consideration in potential acquisitions, other business arrangements, as part of the Company’s share-based incentive programme, or to finance investments. The repurchased shares may either be held by the Company, or cancelled or conveyed.
The Company’s own shares will be repurchased otherwise than in proportion to the existing shareholdings of the Company’s shareholders through trading on a regulated market organised by Nasdaq Helsinki Ltd at the market price quoted at the time of the repurchase.
The total number of Lassila & Tikanoja plc shares stands at 38,798,874. Lassila & Tikanoja plc currently holds 383,955 of its own shares.
LASSILA & TIKANOJA PLC
Eero Hautaniemi
President and CEO
Additional information:
Valtteri Palin, CFO, tel. +358 40 734 7749
Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. We help our customers maintain the value of their properties and materials while protecting the environment. We achieve this by delivering responsible and sustainable service solutions that make the daily lives of our customers easier. We operate in Finland, Sweden, and Russia. L&T employs 8,600 people. Net sales in 2018 amounted to EUR 802.2 million. L&T is listed on Nasdaq Helsinki.
Distribution:
Nasdaq Helsinki
Major media
www.lt.fi/en